Global Yields Reach 15-Year Highs as Rate-Hike Worries Build
- US 30-year rate reached highest level since 2011 Thursday
- Treasury supply concerns are adding to bear case for bonds
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Global government bond yields extended their climb — with the US 30-year reaching the highest point since 2011 and other benchmarks returning to 2008 levels — as resilient economic data challenges the view that central bank rates are peaking.
Both five- and 10-year Treasury yields rose Thursday to within a few basis points of their 2022 highs. The 30-year yield advanced as much as seven basis points to 4.42%, putting it well above the less than 4% level it traded at as recently as July 31. The US 10-year yield climbed to as high as 4.33%, up nearly eight basis points. The equivalent UK yield jumped to a 15-year high, while its German counterpart approached the highest since 2011.